Report: Wal-Mart details China plans

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New York City -- Wal-Mart Stores plans to expand its presence in the smaller cities of China, Ed Chan, CEO and president of the company’s China operations, said today at an investor meeting by video conference, Bloomberg reported.

The discounter may also buy more land to build stores in China, which it predicted will be the world’s largest grocery market by 2014, according to the report. Wal-Mart is building its seventh Sam’s Club outlet in the northeastern port city of Dalian, on the first plot of land it bought in the country.